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March 28, 2008
BOULDER, Colo.—Pharmaca Integrative Pharmacy, a retail chain of integrative pharmacies, announced in mid-March that it has raised $20 million in additional growth capital. The financing round, led by Highland Capital Partners, the Highland Consumer Fund and Physic Ventures, will be used to accelerate Pharmaca’s new store expansion plans; Pharmaca expects to add 12 stores per year to its current 20-store base.
“It is exciting to have the continued support of Highland and Physic Ventures as we grow our integrative retail pharmacy concept in existing and new markets,” said Barry Perzow, co-founder, president and CEO of Pharmaca. “Fueled by a consumer-driven movement toward healthy aging and self care, the convergence of western medicine with natural and complementary modalities is now embraced by leading teaching hospitals and medical centers. Pharmaca’s growth demonstrates that we are the compelling destination for those seeking a healthier, more proactive lifestyle."
Tom Stemberg, managing general partner of Highland Consumer Fund, said his firm welcomes the opportunity to help Pharmaca expand its chain to new markets. "Through its innovative approach combining modern pharmacy with complementary and holistic remedies, Pharmaca has established a leading position in an exciting new retail category," he said.
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